China-Li Presser/Economy

China will not let major economic indicators slide out of proper ranges: premier

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Shotlist


Beijing, China - March 15, 2019 (CCTV - No access Chinese mainland)
1. Various of press conference in progress
2. Reporter raising question
3. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We have appropriately adjusted downward our projected GDP growth target for 2019, and set it within a range. It is not only compatible with the GDP expansion that we achieved last year, but also consistent with our determination of not allowing major economic indicators to slide out of proper ranges. We have sent a message of stability to the market."
4. Press
5. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We will stick to stimulating vitality of market players to counter the downward pressure. We encountered economic slowdown in the past few years and the measures we have taken is to boost the vitality of the market because when we have more vitality in the market, there will be stronger dynamism for the development."
6. Press
7. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"China will continue to cut taxes and fees, streamline administration, foster new drivers of growth, ease market access, and level the playing field for all market players. In this way, we will be able to loosen the market, give more room for enterprises, and solve problems for the people."
8. Press conference in progress
9. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We still have room for policy adjustments. For example, we would raise the deficit-to-GDP ratio by 0.2 percentage point, which is lower than the international 3-percent deficit warning line. We can also use other quantity or price instruments like required reserve ratios and interest rates. We are not going for monetary easing, but trying to provide effective support to the real economy."
10. Press conference in progress

FILE: Taizhou City, Zhejiang Province, east China - Exact Time Unknown (CGTN - No access Chinese mainland)
11. Various of cityscape, traffic

FILE: Hangzhou City, Zhejiang Province, east China - Exact Time Unknown (CGTN - No access Chinese mainland)
12. Various of vehicle being painted, assembly line, workers
13. Various of auto parts

Storyline


China's adoption of a GDP target range this year is consistent with the government's determination of not allowing major economic indicators to slide out of proper ranges, Chinese Premier Li Keqiang said Friday after the closing of the annual legislative session.

The 6-6.5 percent GDP growth target for 2019 is compatible with the 6.6 percent target achieved last year, said Li at a press conference.

The Premier said in this way, China is sending a message of stability to the market.

Li said the downward adjustment of the GDP growth target was made against the backdrop of a slowing global economy, as several international organizations have recently lowered their forecasts for global growth this year.

The 6.6-percent GDP growth rate in 2018 did not come by easily, and the 6-6.5 percent target is going to be a growth on top of a very large base figure, according to Li, who added that keeping steady growth of China's economy in itself is important progress.

Li pointed out that a deluge of stimulus is not a viable option as it might work in the short run, but may lead to future problems, and China's choice is "stimulating vitality of market players to counter the downward pressure".

"We encountered economic slowdown in the past few years and the measures we have taken is to boost the vitality of the market because when we have more vitality in the market, there will be stronger dynamism for the development," he said.

China has over 100 million market entities, whose vitality will create incalculable energy once fully unleashed, Li said, reiterating that China will continue to cut taxes and fees, streamline administration, foster new drivers of growth, ease market access, and level the playing field for all market players.

"In this way, we will be able to loosen the market, give more room for enterprises, and solve problems for the people," Li said.

"We still have room for policy adjustments. For example, we would raise the deficit-to-GDP ratio by 0.2 percentage point, which is lower than the international 3-percent deficit warning line. We can also use other quantity or price instruments like required reserve ratios and interest rates. We are not going for monetary easing, but trying to provide effective support to the real economy," he added.

Facing whatever new circumstances, China will stay firmly grounded in its realities and take a long term view to keep its economic growth stable, and the sound momentum of economic development unchanged for the long run, according to Li.

China's economy will remain an important anchor of stability for the global economy, Li added.

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  • ID : 8105732
  • Published : 2019-03-15 11:31
  • Last Modified : 2019-03-15 19:00:22
  • Location : Beijing,China
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV),China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 17:17
  • Last Modified : 2019-03-15 19:00:22
  • Location : Beijing,Chine
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : Chinois/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 15:11
  • Last Modified : 2019-03-15 19:00:22
  • Location : بكين,الصين
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : الصينية/الصوت الطبيعي
  • Source : China Central Television (CCTV),China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 16:24
  • Last Modified : 2019-03-15 19:00:22
  • Location : Пекин,Китай
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : Китайский/Естественный звук
  • Source : China Central Television (CCTV)
  • Restrictions : Недоступно материковой части Китая
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 16:59
  • Last Modified : 2019-03-15 19:00:22
  • Location : Beijing,China
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : Chino/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 18:15
  • Last Modified : 2019-03-15 19:00:22
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : 中国語/自然音声
  • Source : China Central Television (CCTV),China Global Television Network (CGTN)
  • Restrictions : 中国大陸での使用は不可
  • Version : 1
  • ID : 8105732
  • Published : 2019-03-15 18:55
  • Last Modified : 2019-03-15 19:00:24
  • Category : economy, business and finance
  • Duration : 2'44
  • Audio Language : Chinesisch/Originalton
  • Source : China Central Television (CCTV),China Global Television Network (CGTN)
  • Restrictions : Für das chinesische Festland nicht verfügbar
  • Version : 1

China-Li Presser/Economy

China will not let major economic indicators slide out of proper ranges: premier

Dateline : March 15, 2019/File

Location : Beijing,China

Duration : 2'44

  • English
  • Français
  • العربية
  • Pусский
  • Español
  • 日本語
  • Deutsch


Beijing, China - March 15, 2019 (CCTV - No access Chinese mainland)
1. Various of press conference in progress
2. Reporter raising question
3. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We have appropriately adjusted downward our projected GDP growth target for 2019, and set it within a range. It is not only compatible with the GDP expansion that we achieved last year, but also consistent with our determination of not allowing major economic indicators to slide out of proper ranges. We have sent a message of stability to the market."
4. Press
5. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We will stick to stimulating vitality of market players to counter the downward pressure. We encountered economic slowdown in the past few years and the measures we have taken is to boost the vitality of the market because when we have more vitality in the market, there will be stronger dynamism for the development."
6. Press
7. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"China will continue to cut taxes and fees, streamline administration, foster new drivers of growth, ease market access, and level the playing field for all market players. In this way, we will be able to loosen the market, give more room for enterprises, and solve problems for the people."
8. Press conference in progress
9. SOUNDBITE (Chinese) Li Keqiang, Chinese Premier:
"We still have room for policy adjustments. For example, we would raise the deficit-to-GDP ratio by 0.2 percentage point, which is lower than the international 3-percent deficit warning line. We can also use other quantity or price instruments like required reserve ratios and interest rates. We are not going for monetary easing, but trying to provide effective support to the real economy."
10. Press conference in progress

FILE: Taizhou City, Zhejiang Province, east China - Exact Time Unknown (CGTN - No access Chinese mainland)
11. Various of cityscape, traffic

FILE: Hangzhou City, Zhejiang Province, east China - Exact Time Unknown (CGTN - No access Chinese mainland)
12. Various of vehicle being painted, assembly line, workers
13. Various of auto parts


China's adoption of a GDP target range this year is consistent with the government's determination of not allowing major economic indicators to slide out of proper ranges, Chinese Premier Li Keqiang said Friday after the closing of the annual legislative session.

The 6-6.5 percent GDP growth target for 2019 is compatible with the 6.6 percent target achieved last year, said Li at a press conference.

The Premier said in this way, China is sending a message of stability to the market.

Li said the downward adjustment of the GDP growth target was made against the backdrop of a slowing global economy, as several international organizations have recently lowered their forecasts for global growth this year.

The 6.6-percent GDP growth rate in 2018 did not come by easily, and the 6-6.5 percent target is going to be a growth on top of a very large base figure, according to Li, who added that keeping steady growth of China's economy in itself is important progress.

Li pointed out that a deluge of stimulus is not a viable option as it might work in the short run, but may lead to future problems, and China's choice is "stimulating vitality of market players to counter the downward pressure".

"We encountered economic slowdown in the past few years and the measures we have taken is to boost the vitality of the market because when we have more vitality in the market, there will be stronger dynamism for the development," he said.

China has over 100 million market entities, whose vitality will create incalculable energy once fully unleashed, Li said, reiterating that China will continue to cut taxes and fees, streamline administration, foster new drivers of growth, ease market access, and level the playing field for all market players.

"In this way, we will be able to loosen the market, give more room for enterprises, and solve problems for the people," Li said.

"We still have room for policy adjustments. For example, we would raise the deficit-to-GDP ratio by 0.2 percentage point, which is lower than the international 3-percent deficit warning line. We can also use other quantity or price instruments like required reserve ratios and interest rates. We are not going for monetary easing, but trying to provide effective support to the real economy," he added.

Facing whatever new circumstances, China will stay firmly grounded in its realities and take a long term view to keep its economic growth stable, and the sound momentum of economic development unchanged for the long run, according to Li.

China's economy will remain an important anchor of stability for the global economy, Li added.

ID : 8105732

Published : 2019-03-15 11:31

Last Modified : 2019-03-15 19:00:22

Source : China Central Television (CCTV),China Global Television Network (CGTN)

Restrictions : No access Chinese mainland

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